Fund Summary OptiMix Property Securities Trust OneAnswer Frontier Investment Portfolio

31 July 2021

Fund details Fund performance Investment manager OptiMix As at 31 Jul 2021 Fund code MMF1548AU 1 mth 3 mth 1 yr 3 yr 5 yr 7 yr 10 yr % % % % pa % pa % pa % pa Asset type Real Estate / Listed Total Return † -0.29 6.83 34.05 4.15 3.35 8.32 11.56 Region Benchmark ‡ 0.47 7.94 33.70 8.05 5.24 9.94 12.78 Fund size $0.48 million as at 30 Jul 2021 Excess Return -0.76 -1.11 0.35 -3.90 -1.89 -1.61 -1.22 Commencement date 28 Sep 2010 Distribution 0.00 1.18 2.46 2.92 4.09 3.72 4.43 Distributions Quarterly Growth -0.29 5.65 31.59 1.23 -0.74 4.60 7.12 Investment objective Risk (1 Std Dev) - - 18.29 28.09 22.62 20.19 17.94 Tracking Error - - 3.99 3.74 3.97 3.51 2.98 This fund aims to achieve returns (before fees, charges and Info. Ratio - - 0.1 -1.0 -0.5 -0.5 -0.4 taxes) that exceed the S&P/ASX 300 A-REIT Total Return Index, over periods of five years or more. Calendar year returns YTD 2020 2019 2018 2017 Investment strategy Total Return † 9.46 -9.93 17.99 -1.14 5.28 The fund invests predominantly in a diversified portfolio of Benchmark ‡ 10.64 -3.96 19.57 3.27 6.44 Australian property securities through a mix of managers. The Excess Return -1.18 -5.97 -1.58 -4.41 -1.16 fund is actively managed in accordance with the OptiMix Multi- manager investment process. Growth of $50,000 invested since Minimum time horizon fund inception 5 years

Standard Risk Measure* The Standard Risk Measure (SRM) is based on industry guidance to allow investors to compare funds that are expected to deliver a similar number of negative annual returns over any 20 year period. The SRM for this fund is shown below:

n OnePath OA Frontier INV-OptiMix Property Securities Trust n S&P/ASX 300 A-REIT (Sector) TR AUD Property sector allocation n Retail (30.78%) Top 10 holdings n Diversified (30.14%) Security % of fund n Industrials (22.75%) 14.94% n Office (8.47%) 8.58% n Other (4.25%) 6.13% n Cash (3.61%) GROUP 4.30% VICINITY CENTERS 4.25% 3.64% GPT GROUP 3.16% CHARTER HALL GROUP 2.44% UNIBAIL-RODAMCO-WESTFIELD 1.86% CHARTER HALL RETAIL REIT 1.32% Total Top 10 50.61%

* For further information on Standard Risk Measures and the calculation methodology used, go to onepath.com.au/personal/performance/product-updates.aspx † Returns quoted use the unit price which is calculated using the net asset values for the relevant month end. The prices shown may differ from the actual unit price if an investor is applying for or redeeming an investment. Actual unit prices will be confirmed following any transaction on an investor's investment. Please note that all returns are after the deduction of management fees and expenses and assumes all distributions are re-invested. Where applicable, management fees have been deducted at the highest entry fee option rate. No allowance has been made for entry or exit fees. ‡ Benchmark returns should be used for indicative purposes only. These returns may not be a true indication of this Fund's performance against its investment objective. Fund Summary OptiMix Property Securities Trust OneAnswer Frontier Investment Portfolio

31 July 2021

Market and portfolio review Future investment strategy

The Fund underperformed the index over the June quarter by 1%. The S&P/ASX 300 Property Accumulation Index returned a Underperformance was predominately driven by SGHiscock, while phemnominal 33.9% for the year, with the market rebounding relative value manager Renaissance also underperformed. The post a damaging month of March 2020. The Fund outperformed Fund is positioned towards AREITs with funds management over 12 months to the end of June 2021. Outperformance was earnings streams perceived to be geared towards an improving driven by Renaissance Asset Management due to portfolio recovery. Such names are the few that are able to provide positioning towards a recovery in economies. Overweight Scentre earnings and distribution guidance for FY21. The main detractors Group and Unibail-Rodamco-Westfield had the greatest to performance were the overweight to Unibail which contribution to performance, while underweight positions in underperformed as global yields rallied. The other overweights to Goodman and Dexus helped given lofty valuations. detract were the Australian mall owners Scentre and Vicinity which were hurt by the lockdowns in and Melbourne.

OnePath Funds Management Limited (ABN 21 003 002 800 AFSL 23 8342) and OnePath Custodians Pty Limited (ABN 12 008 508 496 AFSL 238346 RSE L0000673) are the issuers of this material. Except as described in the relevant Product Disclosure Statement (PDS), the issuers do not stand behind or guarantee the capital or performance of your investment. Your investment is subject to investment risk, including possible repayment delays and loss of income and principal invested.

This information is current as at 31 Jul 2021 but may be subject to change. Updated information will be available free of charge by contact Client Services on 133 665. The information is of a general nature and does not take into account your personal needs, financial circumstances or objectives. Before acting on this information, you should consider the appropriateness of the information, having regard to your needs, financial circumstances and objectives. Past performance is not indicative of future performance. The future value of investments may rise and fall with changes in the market. You should read the relevant PDS available at onepath.com.au and consider whether that particular product is right for you before making a decision to acquire or continue to hold the product.